DocuSign price target raised to $48 from $45 at Wells Fargo

Wells Fargo raised the firm’s price target on DocuSign to $48 from $45 and keeps an Underweight rating on the shares. While DocuSign reported solid Q4, results beating across key metrics with initial FY25 guidance also above Street estimates, Wells continues to believe the company’s core e-sign market is highly penetrated and quickly becoming commoditized without a clear next act ahead, the analyst tells investors in a research note.